- Donation is largest in Bank's history -
- Donation to be contributed to newly established Pacific Western Bank Fund
at The San Diego Foundation -
SAN DIEGO, Oct. 31 /PRNewswire-FirstCall/ -- Pacific Western Bank, a
wholly owned subsidiary of First Community Bancorp (Nasdaq: FCBP), today
announced that it is donating one million dollars to the newly created
Pacific Western Bank Fund at The San Diego Foundation. The donation will be
used initially to help fund recovery efforts stemming from the October 2007
wildfires and on an ongoing basis for projects in the region geared toward
improving the local communities. Of the donation, $100,000 has been
designated to benefit families of firefighters and policemen.
The donation is the largest in the history of Pacific Western and its
parent, First Community.
John M. Eggemeyer, First Community's Chairman, stated, "As the largest
independent bank headquartered in San Diego, we have witnessed the
devastation of the wildfires first-hand. As we analyzed how we could best
serve the community in the aftermath of the fires, we sought the advice and
counsel of former Governor Pete Wilson to help us develop a plan that would
have a significant impact on the affected communities now and into the
future. We thank Governor Wilson for his guidance and help in establishing
a long-term partnership with The San Diego Foundation."
Michael J. Perdue, President of First Community and Pacific Western,
stated, "Our employees, customers, families and friends have all been
affected directly by these fires. As San Diego's leading business bank, we
are dedicated to helping businesses grow and to benefiting the communities
we serve. This fund, and our partnership with The San Diego Foundation to
play an active, visible role in the rebuilding efforts, reflects our
commitment, and it is our hope that it will make a difference for years to
come. We thank the firefighters, police officers and other first responders
who worked tirelessly and bravely to help protect and save our
communities."
Former Governor Pete Wilson stated, "Pacific Western Bank and its
parent First Community are to be commended for their generous leadership
and commitment to San Diego and other communities they serve. Their
long-term, hands-on approach to the immediate needs of these communities,
as well as their desire to remain active in the region on an ongoing basis,
are a model of the best corporate citizenship. Their support and
partnership with The San Diego Foundation will help ease the recovery for
businesses and individuals affected by the wildfires."
Bob Kelly, President and CEO of The San Diego Foundation, stated, "We
are grateful to Pacific Western Bank and First Community for their
commitment to San Diego and the trust they placed in us when they
established this fund at The San Diego Foundation. Together, we will work
to better San Diego and continue to improve the lives of those in our
communities. We also thank Governor Wilson for his participation and
ceaseless dedication to San Diego."
The Pacific Western Bank Fund will be administered by The San Diego
Foundation and advised by a fund committee composed of First Community and
Pacific Western Bank personnel to ensure steady contact with all
communities served by the bank. Community organizations interested in
learning more may contact their local Pacific Western Bank branch for more
information or The San Diego Foundation at (619) 235-2300.
ABOUT PACIFIC WESTERN BANK
Pacific Western Bank is the largest independent bank headquartered in
San Diego County, with approximately $5.1 billion in assets at September
30, 2007. Through 61 full-service community banking branches, Pacific
Western provides commercial banking services, including real estate,
construction and commercial loans, to small and medium-sized businesses.
Pacific Western's branches are located in Los Angeles, Orange, Riverside,
San Diego and San Bernardino Counties. Through its subsidiary BFI Business
Finance and its divisions First Community Financial and Pacific Western SBA
Lending, Pacific Western also provides working capital financing to growing
companies located throughout the Southwest, primarily in the states of
Arizona, California and Texas. Pacific Western Bank is a wholly-owned
subsidiary of First Community Bancorp. Additional information regarding
First Community Bancorp is available on the Internet at
http://www.firstcommunitybancorp.com. Information regarding Pacific Western
Bank is also available on the Internet at http://www.pwbonline.com.
ABOUT THE SAN DIEGO FOUNDATION
Founded in 1975, The San Diego Foundation is a broad-purpose community
foundation helping individuals, families and organizations carry out their
charitable plans, with the common goals of improving the quality of life in
the greater San Diego region, now and for generations to come.
SOURCE Pacific Western Bank
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Related links:
http://www.firstcommunitybancorp.com
http://www.pwbonline.com
CONTACT:
John M. Eggemeyer, Chairman of the Board of
First Community Bancorp, +1-858-759-6050; or Sara Wilensky
Napoli, Senior Vice President, Communications of The San Diego
Foundation, +1-619-814-1338; or Michael J. Perdue, President of
Pacific Western Bank, +1-619-235-1210; or Michael Mandelbaum of
Mandelbaum & Morgan, +1-310-785-0810
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